Sydney, Oct 14, 2008 (ABN Newswire) - Mosaic Oil NL (ASX:MOS)(PINK:MSAOF) is currently monitoring the well production performance at Taylor-19 with a view to increase the production flow rate.
Taylor-19 has been on production since 8 October 2008. The well is currently producing at a stabilised controlled rate of approximately 2.2 MMscfd (2.4 TJ/d) of gas with flowing wellhead pressure of approximately 1300 psi against pipeline pressure of 200 psi.
Waggamba-5H (MOS 50% Gas & 65% Free Oil/Condensate)
The remedial completion and testing operations have re-commenced today. Information on the initial clean-up flow operation will be released to the market when available.
Freneau-1 (ATP 709P - MOS 100%)
Mosaic Oil expects to commence the completion and testing operations at Freneau-1 in late October/early November 2008.
Downhole completion equipment for multiple zone completion operations is currently being sourced from overseas.
About MOSAIC OIL NL
Mosaic Oil N.L. (ASX: MOS) is a successful junior Australian explorer and producer of oil and gas. The Company's principal producing assets are based in the highly prospective proven producing Surat and Bowen basins of southeast Queensland. Mosaic's focus on Queensland now involves accelerated evaluation of the Company's extensive exploration and production acreage, ongoing development of new commercial petroleum plays and discoveries similar to the basin-centred hydrocarbon plays in the Canadian Deep Basin of Alberta and American Rocky Mountain area of Wyoming, and greater use of the Company's own extensive production infrastructure.
Contact
Mosaic Oil: Lan Nguyen Managing Director Tel: +61-2-9247-9324
Media: Bill Kemmery Fortbridge Tel: +61-2-9331-0655 Mob: +61-400-122-449
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